TORONTO, May 25 /CNW/ - Rogers Cable Communications Inc. ("Cable")
announced that it has entered into an agreement to acquire the remaining 80%
of the outstanding shares of Futureway Communications Inc. ("Futureway") which
it does not already own. Futureway is a facilities based provider of
telecommunications and high-speed Internet services operating in and around
the Greater Toronto Area, principally in large subdivisions and in certain
office parks and business complexes. The closing of the transaction for the
outstanding ownership interest, as well as an arrangement with entities
affiliated with the principal shareholder of Futureway for certain rights to
market Cable's communication services in future new community developments, is
expected to close late in the second quarter of 2007 subject to Futureway
shareholder approval.
About the Company:
Rogers Cable Communications Inc. is a wholly-owned subsidiary of Rogers
Communications Inc. (TSX: RCI; NYSE: RG), a diversified Canadian
communications and media company. Rogers Cable's advanced digital two-way
network passes approximately 3.5 million homes in Ontario, New Brunswick and
Newfoundland, with 65% basic penetration of its homes passed. Rogers Cable
pioneered high-speed Internet access and now 38% of homes passed by its cable
networks are Internet customers while 59% of its basic cable customers
subscribe to Rogers' high-speed Internet service. With 53% digital
penetration, Rogers Cable offers a leading selection of High Definition TV
programming, a complete array of Rogers On Demand services (including Video on
Demand (VOD), Subscription VOD, Personal Video Recorders and Timeshifting
channels), and an extensive line-up of sports and multicultural programming.
Rogers Cable now offers home telephone service (voice-over-cable) to
approximately 90% of its cable territory and, combined with its circuit
switched telephony subscribers, has more than 770,000 local telephony
customers. Rogers Cable also owns and operates 468 Rogers Retail stores.
Caution Regarding Forward-Looking Statements:
This release includes forward-looking statements and assumptions
concerning the future performance of our business, its operations and its
financial performance and condition. These forward-looking statements include,
but are not limited to, statements with respect to our objectives and
strategies to achieve those objectives, as well as statements with respect to
our beliefs, plans, expectations, anticipations, estimates or intentions.
Statements containing expressions such as "could", "expect", "may",
"anticipate", "assume", "believe", "intend", "estimate", "plan", "guidance",
and similar expressions generally constitute forward-looking statements. Such
forward-looking statements are based on current expectations and various
factors and assumptions applied which we believe to be reasonable at the time.
We caution that all forward-looking information is inherently uncertain and
that actual results may differ materially from the assumptions, estimates or
expectations reflected in the forward-looking information. Accordingly, we
warn investors to exercise caution when considering any such forward-looking
information herein and to not place undue reliance on such statements and
assumptions. We are under no obligation (and we expressly disclaim any such
obligation) to update or alter any forward-looking statements or assumptions
whether as a result of new information, future events or otherwise, except as
required by law. Readers are directed to the Company's 2006 annual MD&A for a
discussion of the various risks and assumptions that could cause actual
results to differ materially from our forward looking statements.
